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The Evolution of the Exchange Rate from “Sacrosanct” Parity to Flexible Monetary Policy Instrument

  • Otmar Emminger
Conference paper
Part of the German Yearbook on Business History book series (BUSINESS, volume 1987)

Abstract

Deutsche Bundesbank’s refusal to continue supporting the dollar at a fixed rate after the dollar nose-dived on March 1, 1973 triggered off an avalanche in the international monetary landscape. It resulted in the collapse of the Bretton-Woods-system of fixed parities and in the introduction of the mixed system of free floating and the European “snake”.

Keywords

Exchange Rate Monetary Policy Central Bank Capital Movement Exchange Rate System 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag Berlin Heidelberg 1988

Authors and Affiliations

  • Otmar Emminger

There are no affiliations available

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